08/27/2024 | Press release | Distributed by Public on 08/27/2024 09:59
WESTLAKE, Texas-- According to Charles Schwab's latest SDBA Indicators Report, an industry-leading benchmark on retirement plan participant investment activity within self-directed brokerage accounts (SDBAs), the average account balance across all participant accounts finished at $335,008 for the second quarter of 2024, up by 5.7% year-over-year and a 2.1% increase from the first quarter of 2024.
SDBAs are brokerage accounts within workplace retirement plans, including 401(k)s and other types of retirement plans, that participants can use to invest retirement savings in individual stocks and bonds, as well as exchange-traded funds (ETFs), mutual funds and other securities that are not part of their retirement plan's core investment offerings.
Account balances rose in the second quarter as equity markets continued to rally. The economy showed resilience while the Fed held interest rates steady during the period.
Allocation Trends
Overall, participant holdings in the second quarter of 2024 were similar to the first quarter.
Other Report Highlights
About the SDBA Indicators Report
The SDBA Indicators Report includes data collected from approximately 290,000 retirement plan participants who currently have balances between $5,000 and $10 million in their Schwab Personal Choice Retirement Account®. Data is extracted quarterly on all accounts that are open as of quarter-end and meet the balance criteria.
The SDBA Indicators Report tracks a wide variety of investment activity and profile information on participants with a Schwab Personal Choice Retirement Account (PCRA), ranging from asset allocation trends and asset flow in various equity, exchange-traded fund and mutual fund categories, to age trends and trading activity. The SDBA Indicators Report provides insight into PCRA users' perceptions of the markets and the investment decisions they make.
Data contained in this quarterly report is from the second quarter of 2024, and can be found here, along with prior reports.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients' goals with passion and integrity.
More information is available at www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn.
Disclosures:
Investment and Insurance Products: Not a Deposit • Not FDIC Insured • Not Insured by any Federal Government Agency • No Bank Guarantee • May Lose Value
Schwab Personal Choice Retirement Account (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), the registered broker/dealer, which also provides other brokerage and custody services to its customers.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.
Money Market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
The information here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The type of securities and investment strategies mentioned may not be suitable for everyone. Each investor needs to review a security transaction for his or her own particular situation. Data here is obtained from what are considered reliable sources; however, its accuracy, completeness or reliability cannot be guaranteed.
(0824-LGNW)
Mike Peterson
Charles Schwab
330-908-4334
[email protected]
Carly Taylor
The Neibart Group
973-618-6993
[email protected]